Home foreclosures – how fares Warren County?

The rate of home foreclosures in Warren County has not, to our knowledge, been publicized. Thus, it would be of interest for a realtor or others familiar with conditions here to share the statistics. Have you, your friends, or your relatives been affected by foreclosures? If so, is alternate financing being considered? Has the govenment “bailout” been of help? Are alternate quarters available for those who are now “homeless?”

Published in: on June 5, 2008 at 6:59 pm  Comments (9)  

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9 CommentsLeave a comment

  1. I only know what I have heard. Sales and appraisals are down. It’s a buyer’s market. You can look at the various real estate salespeople with ads with their pictures in the newspaper and tell they need the business. A few of them keep their ads in year round, but others are in there that usually don’t.

  2. Here’s something I picked up upon about the foreclosures here. None of the realtors aren’t telling which prospective homeowners which neighborhoods these foreclosed homes are and the comparibles. But I can tell you in the county and city just take a hard look at the for sale signs everywhere.

  3. You find forclosures in the paper. The Vicksburg Post posts them.

  4. What is now interesting that in Saturday’s Post that the Antebellum homes are up for auction. But with the auction bids for these homes the price is going to be less than the original price. Last year I watched a segment of California homes,really nice ones,I maight add being acution off. The homes went half and less than the original appraised price.
    Now the same is being applied to the antebellum homes. Auctioner from Madison who handled the house auctions pointed out the fact they’re price is much less than they were on the market.

  5. Realtors don’t have the statistics. It would be vertually impossible to come up with an accurate figure. Some foreclosures make it to the Multiple Listing System but many are sold through banks, HUD or VA. I can tell you there’s more foreclosures now than a year ago. One of the questions asked in the topic was have you or your family been affected. You may not know anyone foreclosed on but I can guarantee you have been affected. Your value on your home is lower now than it was a year ago. What neighborhoods have been affected?? It would be very hard to find a subdivison without a foreclosure in the past year and a half. Sounds pretty bad, huh? It’s not over yet.

  6. I totally agree, Anna. It ain’t over yet. What baffles me is how the Warren County reappraisers came up with property values that are above last years’. Do you suppose it has something to do with taxes?

  7. The tax assessors department can be wrong on values placed on properties. If yours seem out of line call a real estate appraiser and have it appraised. You can use that appraisal to request a change in your assessment.

  8. I would be curious to see how much the Balfour House sold for. It stayed on the real estate market for a long time. They may have received offers for more than it was auctioned for.

  9. I think the last date for protesting your appraisal has passed. Conveniently, there’s little notice of this date.

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